Spyre Q2 2023 Earnings Report
Key Takeaways
Aeglea BioTherapeutics reported second quarter 2023 financial results, including $236.7 million in cash and cash equivalents, $0.7 million in revenue, and a net loss of $217.1 million. The company completed the acquisition of Spyre Therapeutics, raised $210.0 million in gross proceeds, and sold global rights to pegzilarginase for $15.0 million upfront and up to $100.0 million in contingent milestone payments.
Completed the asset acquisition of Spyre Therapeutics, shifting focus to inflammatory bowel disease (IBD).
Raised $210.0 million in gross proceeds through a private placement.
Sold global rights to pegzilarginase for $15.0 million upfront and up to $100.0 million in contingent milestone payments.
Cash and cash equivalents and restricted cash totaled $236.7 million as of June 30, 2023.